Buyer Beware

Recent articles

Most properties that I come across in the auction rooms of the UK need renovating to a greater or lesser degree. Being able to spot what is just a cosmetic problem and what is going to be costly to sort out, is a great thing to be able to do. Here is my Top 10 list of things to concentrate on when viewing a property and assessing its merits as a renovation project.

Well given that it’s Easter week and I hope that you are all having a ‘cracking’ time (hah! -no excuses for the pun!), I thought that this week I would write about cracks. Serious cracks - and how they can impact on your redevelopment project.

House builders in the South West were recycling as far back as the beginning of the 20th Century by using by products of the Cornish Tin industry to manufacture cheap concrete. However, years on these blocks can crumble like sugar lumps if exposed to water. So what is the extent of problem of Mundic Block and should investors give any property constructed from concrete a wide berth?

New properties are almost always more energy-efficient, environmentally friendly and economical to run than older ones. They’re generally well planned, adapted to contemporary lifestyles and many are covered by structural guarantees that reduce the potential for unpleasant – and expensive – surprises. Add to this the variety of properties on offer – from stylish apartments to traditionally designed family houses – and it’s no wonder that brand new homes have been popular.

Whilst I get to see a fair share of older, character properties on my travels, it is quite rare for us to visit a property with a thatched roof. Many properties with thatched roofs are period cottages and homes that have that ‘chocolate box’ charm and if located in a rural location with other similar properties, this alone can be quite appealing. With renewed interest in our historic architecture, thatching is once again, becoming more popular, but are houses with thatched roofs property investor / developer fodder – or more trouble than their worth…

Empty properties are abit of a sore point for most councils and local authorities. Aside from the fact that they are often the cause of complaint to the council by neighbours and local residents because of their unsightly appearance, they can also attract other anti-social issues such as squatters and criminals. But what about their appeal to property investors...?

There are thousands of ex-local authority concrete (PRC) houses up and down the country, many with fantastic locations and good sized accommodation. But don't buy without knowing what these properties are all about.

Training Dates

If buying at auction, the Auctioneer may take bids ‘off the wall’ until the reserve price is reached. The Auctioneer pretends that someone has bid when they haven’t. This is used to entice would-be bidders to join in the bidding if it is slow to begin.